Investment banks including Goldman Sachs, JP Morgan, Merrill Lynch and Morgan Stanley are understood to be advising the Italian government on the feasibility of establishing a state-owned holding company with assets of up to €500bn ($600bn).

No official mandate has been awarded, according to bankers close to the Italian ministry of finance, but banks will be keen to make sure they are involved in a project that could generate large fees.

Jonathan Sibun

Mediobanca

Poste Italiane

JP Morgan

Morgan Stanley

Goldman Sachs

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Italy mulls state holding company

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